٢٣ فبراير ٢٠٢٢
Elite to expand into fifth GCC market
Elite Co., a Dubai-based regional logistics company, has announced plans for an organic expansion into the Kuwait market. This marks the fifth country in which Elite Co. will have a physical presence, following UAE, Oman, Qatar and Bahrain. Elite Co. intends to bring its existing service offering of both overland freight and express last mile delivery products to Kuwait.
The move comes just a few months after new management took over, following the acquisition of Elite Co. by Green Dome Investments in November of last year. According to Green Dome Investments Managing Director and Elite Co. CEO, Hisham Albahar, “Kuwait is a natural next step for Elite Co., as our immediate goal is to be present in all GCC markets. While we already serve these markets with cross-border products, having physical assets on the ground and a dedicated team will mean we can more fully leverage our network and become a full regional service provider to our existing and future clients.” Albahar also further elaborated that the organic entry to Kuwait does not preclude a future acquisition there, as the primary growth strategy remains M&A.
While Kuwait is the fifth market in the Middle East to be entered, Albahar expects to continue expansion, with the potential of Saudi Arabia, which is the largest market in the GCC, and the only remaining large market in which Elite Co. is not present. Albahar added that, “We are actively evaluating opportunities to enter the Saudi market and it is very much a goal of ours to enter sooner, rather than later.”